JMMB Group Partners with Realtors Association of Jamaica 

The JMMB Group has partnered with the Realtors Association of Jamaica (RAJ), through an agreement that will see JMMB Group offering RAJ members special financial solutions and an incentive programme.

The agreement was announced at a series of RAJ training seminars held across the island, in Kingston, Mandeville and Montego Bay, late last year. 

As part of the partnership, JMMB Group now provides a customised offering designed to assist the realtors to better meet their personal and professional goals. In explaining the genesis of the agreement, Karen Tomlinson, JMMB’s corporate manager, client partnership and sales coaching, noted “in recognition of the unique challenges faced by this segment JMMB Group decided to offer them customised financial solutions. From our meeting with the association, we identified that these individuals are often challenged in accessing loan facilities and establishing a retirement plan to assist them in meeting their future needs, because of their commission-based salary structure. As a result, JMMB Group has put forward this agreement which will benefit the over 800 members of the RAJ.” This offering is in keeping with JMMB Group’s commitment to being ‘in its clients’ world’ and providing easy, seamless and customised financial solutions. 

Through the partnership agreement, members of the RAJ, who are not active members of an approved retirement fund, can benefit from JMMB Retirement Solution offering, so that they can secure their future.  Individuals can contribute up to 20% of their annual income towards their retirement plan, through the JMMB Retirement Solution, by making contributions based on their earning pattern, as opposed to a predetermined basis, such as monthly. 

In addition, JMMB Bank has extended a special loan to RAJ members with special interest rates and criteria on motor vehicle loans, with up to 8 years to repay, for new cars. In sharing further details of the agreement, Tomlinson notes, “a discounted rate is also offered on used cars being purchased by RAJ members, with financing being offered on vehicles up to 9 years old; and a reduction on all processing fees, to 1% is also applicable to all motor vehicle loans.” 

JMMB Bank provides a customized car financing package – JMMB Drive Easy – which includes a car loan and insurance coverage with a discounted premium, through JMMB Insurance Brokers, as well as a 20% discount on Hawkeye Vehicle Tracking System. 

The partnership agreement also has an incentive component for realtors who provide closed home loan referrals to JMMB Bank, by March 2018; with a grand prize of a dream vacation for the top realtor, over the period.

                                                                         

Edwin Wint, president of the RAJ, in welcoming the agreement, said it is an opportunity for its members to benefit both on a personal and professional level. “We are particularly excited that JMMB Group has customised its (processes) and financial solutions to fit our unique earning pattern; thus filling a gap that has existed for our members.” He added that these benefits extend not only to the realtors but to the association, as this offer improves the value proposition for realtors to become a part of the RAJ.” Wint further noted that although the RAJ has existing partnerships with other financial institutions that provide incentives to its members, JMMB’s partnership is holistic in its approach, as it combines an incentive component along with financial solutions, namely: car loan and retirement solution.  
 

In order for realtors to access the loan offering and/or retirement plan, individuals should begin with an initial conversation with a JMMB representative and submit the relevant documentation based on the financial solution. Supporting documentation to begin the process typically includes: proof of income; national identification; and taxpayer registration number (TRN). Applicants are typically advised, on whether or not their auto loan application has been approved, within 48 hours of submission of all of the relevant documentation. 

This agreement also provides an opportunity for JMMB Group to further build its relationship with small businesses, by catering to their unique financial needs with the range of financial services that extends beyond the agreement, such as financial advisory services, cambio transactions, investment solutions, savings and other loan options.